Sefalana�s new Lesotho stores rake in P155m
Tuesday, August 01, 2017
Chauhan
Presenting their financial results for the year ended April 30, 2017, Sefalana managing director, Chandra Chauhan said the mountain kingdom’s market has a lot of potential and they are currently exploring other sites in Maseru for additional store opening.
“This acquisition gave us a very strong presence in that market from our first day of trading by increasing the group turnover by P155 million in the first six months of operation.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...